xjo weekend zoomba lounge, page-51

Big Daddy,

If you look at the shorter term chart posted earlier you will notice the resistance that the DJIA currently faces.

It is most likely the Australian market pre-empting the difficulty of clearing this resistance. Could also be influenced by profit taking with the high aussie dollar (rate cut) or "sell into the good news" supply etc etc.

I have delayed data, so cannot show todays xjo candle. But it should be shown on Redbacka's post earlier in this thread. It is a bearish inverted hammer. Bullish hammers and bearish inverted hammers have been very effective at signaling turning points over the past year on the XJO. I have numbered them throughout the chart below.